Government adopts draft bill on pension reform

Pulse Staff 07:13 - 08 January 2016

Morocco government adopts draft bill on pension reform

The government said earlier the reform will cost 41 billion dirhams ($4.14 billion) over the next five years.

Morocco's government adopted a bill on Thursday outlining planned reforms to the pension system that unions say would damage workers rights and have vowed to block.

The proposed changes to state pension funds include an increase in the retirement age to 63 by 2019, and higher workers' contributions along with an expansion of the calculation base, according to a government statement.

($1 = 9.9120 Moroccan dirham)